28 September 2012 0 Comments

Property settlement during a divorce

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Marriage is supposed to be all about love and a lifetime together.  Did you know that marriage is also a business contract?  Because of this, it is important to protect your business prior to saying, “I do.”  While saying, “I do”, few people are thinking about the possibility of divorce.

Statistics show that roughly 50 percent of all marriages end in divorce.  Are the odds in your favor?  It is essential to discuss finances with your soon-to-be spouse before your wedding takes place.  If you do not come up with an agreement such as a prenuptial agreement, you take the risk of losing all or part of your business in case of divorce down the road.

Keep in mind that California is a community state and in the event of divorce, all assets and debts acquired during the marriage are divided equally among the couple.

If you are considering marriage, contact an experienced Riverside Family Law attorney to discuss how you can protect your business in the future.

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